According to the Patek Philippe brand, “you never actually own a Patek Philippe. You merely look after it for the next generation.” But what happens when you need to sell one of these luxury watches? You can find plenty of places to sell one, there is no doubt about it. The problem most sellers have is finding the real value of their timepiece.
So, what is the best way to assess the value of a Patek Philippe watch? In this blog post, we will try to answer this question by talking about the different approaches you can try. In most cases, you will have to assess the value of your Patek Philippe in several places and then make an average. We think this is the best way to come up with a price that is as close as possible to the real price of your watch.
But First, A Word About Patek Philippe Watches
Patek Philippe SA has been founded on May 1, 1839 in Geneva, Switzerland. It is one of the most renowned clock manufacturers and a Swiss luxury watch brands in the world thanks to their innovative designs, interesting choice of materials and reliable timepieces. Did you know that patrons and owners of Patek Philippe watches include Queen Victoria, Albert Einstein, Princess Diana, Pyotr Tchaikovsky, and even Pope Pius IX?
Another interesting fact about this brand is that it holds the record for the most expensive watch ever sold at an auction. In 2019, Christie’s sold the Patek Philippe Grandmaster Chime (Ref. 6300A-010) for a whopping 31.19 million US dollars. Who knows, maybe your Patek Philippe watch is worth as much. However, you can’t be sure until you find out its real value.
Assessing a Patek Philippe Timepiece
When it comes to assessing the value of a Patek Philippe luxury watch, we advise our customers to do several things. Here is what you should do if you’ve decided you want to sell the timepiece:
- Find the reference number of your watch, as well as the movement number and case number. This will tell you exactly what type of watch you have. Of course, you can get this information from the paperwork that came with the watch, if you still have it.
- Try to get the paperwork using the “Extract from our Archives” service offered by Patek Philippe.
- Do your homework. This means researching the market and trying to find out how much your particular watch has sold for in the past. Look at auction houses, eBay, Amazon, private listings, classifieds, and everywhere else you can.
- Write down the prices you’ve found and then calculate an average price based on them. This will usually be the correct price you can get for your watch.
However, you may consider that the price is too low. Or perhaps you didn’t find much information about your specific Patek Philippe model. In this case, if you want to sell a Patek Philippe watch in NYC, you should come to our watch shop.
Bring the watch, as well as all its paperwork to us for a free appraisal. Our experts will assess the value of your timepiece in no time and tell you exactly what it’s worth. Better still, you can sell the watch to us right then and there and get paid right away. If you decide not to sell it, at least you’ve found out how much your Patek Philipp is worth.